Saving is Wasting?

[karmamiu]

Being a student is so hard nowadays. I've been spending a lot for school requirements and different activities related to education. I'm stuck with this saying "SAVING IS WASTING", thinking that with the little amount of money I have, should I put it on an investment or should I just save it for my future expenses or emergencies. I'm also living in a country in which there are limited side hustles I could do to earn extra for investment, so I'm troubled somehow.

[1714695266]

1714695266

[Supreemo]

Being a student is so hard nowadays. I've been spending a lot for school requirements and different activities related to education. I'm stuck with this saying "SAVING IS WASTING", thinking that with the little amount of money I have, should I put it on an investment or should I just save it for my future expenses or emergencies. I'm also living in a country in which there are limited side hustles I could do to earn extra for investment, so I'm troubled somehow.

,i can feel you there. I was also once a student and had to experience the same thing. Unlike today that there are so many jobs that can be found online, before you literally need to do physical hustles or sometimes work during weekends to to have and extra income. I have some acquaintances too that are working part time, but what's hard that time is that, those extra odd jobs we were doing are not even paying decently around 3-4 dollars per day and it feels like your effort was not paid accordingly. There are even friends of mine who are forced to work evening shifts because there's nobody to provide him food or allowance to sustain his education, luckily he's a scholar so his education is already covered but his food and shelter? nah it's not for free. You should still be grateful since you still have a roof over your head and a food on your table, just continue to search for more opportunities in your area.

[lovesmayfamilis]

You as a student always need to remember one thing: all your spending on education is an investment in your future. You should never postpone or cut back on your education. As far as extra income is concerned, this is what most students do. If you are talking about investing extra funds in Bitcoin, you should not refuse it. But first, you must understand the old and well-learned rule that you invest only what you don't mind losing.
In your case, it is probably worth waiting for better times.

[Jawhead999]

Saving is wasting because every year fiat always inflated, so if you save $50 every month, which will be $600 in the end of year, but actually your $600 doesn't have same buy power like when you start to save, maybe it's already become $550, so you're always lose your money.

You can invest to stock, gold or Bitcoin, depends with your choice. You don't need to worry if you're need money in hurry, because you can sold it for instant, so you can use the money you invested for emergency needed.

[irhact]

I'm stuck with this saying "SAVING IS WASTING", thinking that with the little amount of money I have, should I put it on an investment or should I just save it for my future expenses or emergencies.

Hope you know if you don't save, then you won't have enough capital to start a reasonable investment that can help your financial situation. When people say saving is wasting without specifying the reason behind a wasteful saving, it sends the wrong message outside. You're a student and surely won't always have enough money to take care of all your school needs and at the same time have money available for investing but that's where savings comes in.

You can start saving for investment purposes and such saving won't be wasteful, don't let anybody deceive you that saving entirely is wasting instead saving for spending is what is wasteful while saving for future investment isn't. For example if you didn't have an savings available for purchase on bear market then you won't be among those profiting in the bull market.

[Outhue]

Do all you can to face your studies brother, nothing matters more than your studies, do not let anyone tell you otherwise, I believe this will open doors to a blessed future, do not use your money to take unnecessary risks unless you have other side hustle that pays, a distracted soldier is a dead soldier.

[Ucy]

Being a student is so hard nowadays. I've been spending a lot for school requirements and different activities related to education. I'm stuck with this saying "SAVING IS WASTING", thinking that with the little amount of money I have, should I put it on an investment or should I just save it for my future expenses or emergencies. I'm also living in a country in which there are limited side hustles I could do to earn extra for investment, so I'm troubled somehow.

Saving and Investment are for the qualified... The main reasons I don't encourage people to save is due to the issue of money(or whatever you are saving) not put into good use. The money should be used for solving problems and not lying around doing nothing while there are problems to solve.
In regards to investment, it's important to know the right people or things to invest in. Things or people you invest in should be profitable for society which includes you

[xSkylarx]

The point of the people who told you is that if you save, like in your piggy bank or under your bed, your money will not increase, meaning you are not gaining anything from it, and it will also lessen its value over the year. I mean, it is still the same money, but if you use it to purchase items, those items are more expensive than previous years. They just point out that you need to invest it like you can gain something, e.g., by putting it in a bank for a time deposit (which most people won't recommend) or by buying bitcoin and holding it over time. That is an investor's mindset on how he will earn more money while at the same time saving his money for future purposes.

[ajiz138]

I think education is important so it's very natural that a lot of money has to be spent because you know that after graduation you will be provided with a lot of knowledge, especially investing in various things to choose from, so I think it's more important now to finish education with sober money rather than investing big not necessarily you learn especially in bitcoin.

Maybe after you are not burdened with education, you can start to put your hopes in investing, especially in bitcoin, but you have to distinguish between expenses and investments, but if you are still united in the same cash flow, it will be more difficult to manage it, except for some side jobs then it can be used as an additional investment and education money will not be disturbed.

[traderethereum]

You can save it for two different purposes.
The point is that you are currently saving with the first goal as an investment in the future and the second is for your future expenses or emergencies.
You have the opportunity to profit in the future, assuming you do not use very large amounts of money for emergency expenses.
But you should prepare two things, namely investment and emergency expenses, but place them in different posts so they don't interfere with each other.
Maybe you need to count all your money, place your money in the appropriate accounts, and calculate how much is left so you can see how much you have left so that you can use it for investment and emergency expenses.

[bangjoe]

Being a student is so hard nowadays. I've been spending a lot for school requirements and different activities related to education. I'm stuck with this saying "SAVING IS WASTING", thinking that with the little amount of money I have, should I put it on an investment or should I just save it for my future expenses or emergencies. I'm also living in a country in which there are limited side hustles I could do to earn extra for investment, so I'm troubled somehow.

I am also still a student like you and most of us probably experience the same thing in this case. If you still have money that can be saved, it's better if you save it for an emergency fund, because indeed anything needed during school time can occur and force it suddenly and it's not in your spending plan's monitoring. Regarding the many activities that you do and spend most of your money in my opinion it is a form of investment that you do for yourself so that in the future you have the ability and understanding of what is your current experience, it will really help you in the future future if you have a lot of experiences that shape who you are today.

[karmamiu]

You as a student always need to remember one thing: all your spending on education is an investment in your future. You should never postpone or cut back on your education. As far as extra income is concerned, this is what most students do. If you are talking about investing extra funds in Bitcoin, you should not refuse it. But first, you must understand the old and well-learned rule that you invest only what you don't mind losing.
In your case, it is probably worth waiting for better times.

Though I understand their point on saying saving is wasting if it's not used in a proper way, as of now as a person that is currently learning the other side of things I think I should study more about investments and stuffs. Even though I am already well aware of crypto as a prospect for investment I know I don't need to cut back for my education since it is also a form of investment.

[Coyster]

Saving only sounds like a waste to a couple of people because there are no chances of your money appreciating, and it could as well depreciate depending on how strong or weak the currency you are saving is.

Well, imo i'd say you should work according to your risk appetite, because there is practically risk in everything. Saving might carry a lower risk anyway, because you could basically just leave your money in tbe bank and earn tiny interest on it every year; the only risk with that method is the effects of inflation. Whilst investments are quite risky, though some are more risky that the other; if you are to buy Bitcoin as an investment for example, you'd have to learn what the risk concerns are, and how to imbibe the responsibility of being your own bank so you don't lose your coins to scammers or sheer negligence, but if you can do things right you stand the chance of earning a very good ROI in the long term.

It is your future, and only you can decide, you just have to look at the pros and cons of it all. Better still you can split your money and invest some, whilst you save some.

[inthelongrun]

My hat's off to you for having that mindset while you're still young. People with mindsets like yours are the ones to become rich in the near future.

Focus on your studies first. If you have free time, balance it between sideline jobs and enjoying yourself. Do not get stressed a lot unless your parents are also struggling to provide for your basic education wherein you really need to focus your extra time on getting sideline jobs. If you have savings, you can divide it been investing in bitcoin and keeping the other half on fiat because the crypto market is not that easy to predict too. Investing is not a guarantee to earn income nor can keep your funds from losing. So always keep the balance as if you are also diversifying.   

[pooya87]

Aimlessness is wasting whether it is aimless saving or anything else. In other words saving itself is a good thing as long as you have a good plan. For example you can't and shouldn't save up to buy a house because it is too expensive and it takes too long and during that time inflation would render your money less-valuable. But if you are saving to invest in something smaller like bitcoin or a gold coin then that makes sense. Your investment should also be wise and well planned.
Then you can slowly grow your investment (from 0.001BTC to 0.1BTC then 1 ...) and then use that investment for a bigger investment like the house you wanted to buy at the start.

[livingfree]

Being a student is so hard nowadays. I've been spending a lot for school requirements and different activities related to education. I'm stuck with this saying "SAVING IS WASTING", thinking that with the little amount of money I have, should I put it on an investment or should I just save it for my future expenses or emergencies. I'm also living in a country in which there are limited side hustles I could do to earn extra for investment, so I'm troubled somehow.

I don't know what to say if I'm lucky that I've got side hustles and worked part time while studying several years ago since you've mentioned that opportunities there is limited.

But to say that saving is wasting, I beg to differ because that's where the discipline will start for you. It's nice to have savings as you study because you've got something to get whenever you need cash as that's most likely to happen being a student.

[salad daging]

It is much better to invest than to save in the bank, because what we know is that the value will not increase unless the bank gives a yearly gratuity. On the other hand, the risk is inflation, which causes the currency to weaken, this often happens in every country.

It's true what you said to save in the bank is for expenses and emergency funds only, the rest must be invested in other assets that you think you understand or do by diversifying in several assets and especially bitcoin which will likely rise in the future.

I completely don't put money in the bank except for other needs including expenses and children's education costs, so for investment it is always separated and will not be linked to the bank, now I am only focusing on investing in bitcoin as one of them

[gantez]

Remember it that putting your money in the education is your own investment for your own future so don't waste your money for saving it because of inflation and when you receive it back from bank no much value of things that you can purchase with it. Don't stop your education because of difficult. Keep struggling to succeed because in the future you can use your certificate to search for job and education give you above some people who have no knowledge in your field and that is your advantage.

[LogitechMouse]

Being a student is so hard nowadays. I've been spending a lot for school requirements and different activities related to education. I'm stuck with this saying "SAVING IS WASTING", thinking that with the little amount of money I have, should I put it on an investment or should I just save it for my future expenses or emergencies. I'm also living in a country in which there are limited side hustles I could do to earn extra for investment, so I'm troubled somehow.

Priorities. Build a plan base on your priorities.

You said that you're a student then prioritize your studies. Prioritize going to school. Prioritize your needs for your school. Prioritize your school requirements. Don't stress yourself out because of money or saving in this case because for me, getting a degree and getting a job after studying is a better thing to do than stressing yourself out because of money. If you can get a good job, money will come to you then that's the time that you will think about it.

When I was a student, I didn't think about investing, but I focused on my studies. Studied hard and fortunately, graduated from college. After that, that's the time where I thought about money. I saved money at the start because that's what the older people taught to us, but as I studied investing, I realize that I'm wrong. Not wrong literally, but I was wrong that I saved all of my money in a bank account. Cut the story short, I still save money until now, but that's money is my emergency funds only. There's nothing wrong with saving as long as you are doing it for emergency funds.

Focus on your priorities first. You're a student so focus on studies first. After graduating, get a job then put a portion of your salary in investment and put a portion of it in emergency funds. Save money for emergency funds only, and don't save for the sake of saving (well at least that's how I think).

[mindrust]

Being a student is so hard nowadays. I've been spending a lot for school requirements and different activities related to education. I'm stuck with this saying "SAVING IS WASTING", thinking that with the little amount of money I have, should I put it on an investment or should I just save it for my future expenses or emergencies. I'm also living in a country in which there are limited side hustles I could do to earn extra for investment, so I'm troubled somehow.

Depends on saving your money in which assets. If you are saving assets like stocks, real estate, land, commodities etc then you have nothing to worry about. Especially real estate and stocks are capable of producing passive income they are pretty much the best choices when it comes to making investments. Crypto and other commodities are good choices too. You can make outrageous returns with crypto especially. What are you going to do with your money if you are not going to invest them anyway? Spend all? That's not wise unless you are retired.